US job losses near 40m despite states reopening

[Yo_Mama_Been_Loggin]

Nearly 40m Americans have lost their jobs in the last nine weeks as unemployment claims continue to rise, even as US states start to reopen their economies.

The lifting of restrictions on businesses failed to stop a further 2.4m Americans making new claims for unemployment benefits last week, down from 2.7m the previous week.

The losses in the week ending May 16 were the lowest since the US jobs crisis started in mid-March - but were still more than 10 times higher than pre-coronavirus levels following an unprecedented collapse in economic activity.

Some 38.6m US workers have now filed for jobless benefits in a devastating nine weeks.

https://finance.yahoo.com/news/us-job-losses-near-40m-133248771.html

[jimfields33]

1. I am curious in the numbers in 12 weeks.

That should tell us a lot.

[ProudMNDemocrat]

2. Next Jobs numbers should show 25% plus UNEMPLOYMENT.

Thee will be NO robust 3rd quarter GDP going into the Election.

Trump has NOTHING to run on.

[doc03]

4. I am not saying it will come back where we were

but I read the GDP will increase 20 something percent. He can claim it is roaring back. That's a huge jump from minus 30+ persent. He will claim the fastest recovery in history.

[panader0]

3. The 38.6 million is only the number who have filed with states.

There are many more, self employed or other that cannot file with the state.
The real number is several million higher I believe.

[crickets]

5. K&R for visibility.